Jazeera Airways has posted a net profit of KD3.8 million (US$12.43 m) for the first quarter (Q1) of 2022, compared to a net loss of KD5.2 million (US$17.00 m) in the first quarter of 2021. Total revenue for the quarter reached KD35.7 million (US$116.74), up 339.2%, while operating profit stood at KD5.3 million (US$17.33 m), up 199.3%.
These record earnings were supported by a close to sixfold increase in the number of passengers, with restrictions at Kuwait International Airport being eased and travel capacity gradually increased to levels near to the pre-pandemic period. Similarly, load factor reached 75.2%, an increase of 28.7%. Commenting on the results, Jazeera Airways Chairman, Marwan Boodai said: “The gradual return of travel capacity at Kuwait International Airport since the second half of last year as well as the lifting of travel restrictions worldwide have shown that there is indeed a latent and strong appetite for travel. (£1.00 = US$1.25 at time of publication)
